EMCC European Monitoring Centre on Change

Assa Abloy

Company/Organisation:
Assa Abloy

Geographic Location

Country: World

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
25 - Manufacture of fabricated metal products, except machinery and equipment
Number Employed: 30000
Group: Assa Abloy Group

Employment Effects

Announcement Date: 26-04-2006
Planned Job Reductions min: 2000
Planned Job Reductions max: 2000
Type of Restructuring: Internal restructuring

Additional Information

The locking solutions manufacturer and supplier ASSA ABLOY has announced a massive restructuring programme which will be completed during the next three years. The aim of the programme is to close down unprofitable factories and make changes in production sector. This means a cut of a total of 2,000 jobs around the world. According to programme, about 70 per cent of the job reductions will take place in company’s production plants in Europe. The total cost of restructuring will be 134 million EUR and its aim is to a save of 65 million EUR on an annual level. Additionally, Assa Abloy considers to call a halt to a car lock manufacturing in Great Britain. This would increase restructuring programme expenses by 22 million EUR. In Finland ASSA ABLOY Group employs 1,160 people. The company has some 30,000 employees world wide and annual sales of about EUR 3 billion.